AgResource Hog Comment and Analysis
Hog Futures Correct Turn Down on Profit-Taking: Hog futures corrected part of Thursday’s gains and closed lower on Friday. However, the cash hog index continued its steady advance, gaining $.33 on Friday to end the week at $55.41. AgResource estimates another $.11 higher for Monday. Hog feeding margins began to recover in late July as…
AgResource Wheat Comment and Analysis
CBOT Wheat Rallies Sharply into Close: CBOT wheat futures ended 5-8 cents higher, with KC contracts in tow. FAS failed to confirm recent rumors of Chinese buying but a surge in European milling wheat futures offered support. Reduced production in Western Europe and slowed farmer selling ahead of September’s expiration has triggered short covering there.…
AgResource Corn Comment and Analysis
CBOT Corn Ends Firm on Wheat Rally; Pro Farmer Yield Unexciting: CBOT corn rallied slightly into the close amid strength in neighboring wheat markets. Volume remains deflated as the trade awaits clarity on next week’s Central US weather pattern shift. Funds on Tuesday were short a net 110,500 contracts, vs. 172,000 contracts the previous week.…